SLM offers technical solutions for broker firms

Mortgage club Scottish Life Mortgages (SLM) has launched a technological solution designed to provid...

Mortgage club Scottish Life Mortgages (SLM) has launched a technological solution designed to provide a one stop shop for broker firms and networks.

Triangle Solution is a three level service for mortgage intermediaries and networks which allows them branded access to the facilities offered by the club, including e-trading, packaging and general insurance.

Network + is designed for networks. It allows them to access SLM’s technology and products, including Personal Touch Insurance products. It can be jointly branded and allows networks to tailor a solution that meets their needs. At the time of going to press, one network had signed up and talks were ongoing with a further two.

Steve Scholes, director at SLM, said: ‘Regulation will bring challenges for networks. Some are having bad press at the moment, and if they are creaking now then what will happen in the future? There is the potential for even large companies not to be able to deliver what they are promising in terms of compliance. The FSA will need to look into it and some networks will get pulled up, unless they can ease the pressure.’

The second tier is Sub Net, which is targeted at brokers who have a turnover of less than £1m, and is aimed at brokers who want direct authorisation but may not have the funds to pay for this and all the extra areas they need to service too. The final tier is Challenger which is aimed at smaller firms and individuals. They will be able to use SLM’s operational platforms, but they will not be branded.

Commenting, Andy Frankish, new build manager at franchise network Mortgage Talk, said: ‘I can certainly see the benefits of the final two tiers, because of the much publicised concerns over how smaller firms will cope post-2004. The network option may be good for those who want to carry on as they have been. However, our size means that we have taken the decision to do our own compliance, and it is the largest growth area of the company. There is a threshold and over which you have got to get your own house in order and run things yourself.’

You may also be interested in

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.

NEWSLETTER SIGN UP

For just two more minutes of your time, you can register for premium access

Specialist lending newsletters

Access to exclusive content

Priority event notifications

Business information tailored specifically to your business needs

Engage in interactive commenting and voting in our weekly polls

Specialist Lending Newsletter

You may also be interested in the Specialist Lending Solutions newsletter. All the latest news, analysis and insight from the mainstream residential lending market. Including industry news, adviser business strategy tips and market commentary.

Email address

First name

Surname

Postcode

By submitting your details, you are agreeing to AE3 Media’s privacy and data policy
The data controller is AE3 Media Ltd. We will use your data for the purposes of sending you newsletters from Mortgage Solutions and any other relevant information from Mortgage Solutions such as events, research, feedback, and surveys. You can view the full details by visiting the privacy policy

LOGIN

please sign-in using your email and password

Success....

Please enter your email address and we will email you a link where you can change your password.

Premium access

Register to gain access to MortgageSolutions.co.uk for the latest news analysis, interactive comment, industry video and features, all at your finger tips. Vote in our polls, get your opinion across on the news and watch out for our weekly editorial round-up features.

Delegate places are free of charge, subject to approval by the organisers based on job criteria

Registered delegates have access to the seminars where applicable. You will be given an identification badge, which must be shown upon request.

Once you have registered and your application has been accepted, then you are expected to attend. If you are subsequently unable to attend, please make sure your notice of cancellation is sent at least three weeks prior to the date of the event.

All cancellations must be received in writing. You will receive confirmation of your cancellation. Suitably qualified replacements may be sent if you are unable to attend; however, the organisers must approve them before the event takes place.

Should you be unable to attend, a substitute delegate is always welcome, subject to confirmation by the organisers and on receipt of the change in writing.

AE3 Media reserves the right to change the programme, speakers, dates or venue at any time, without notice. Should for any reason the venue or speakers change, or the event be cancelled due to an act of terrorism, extreme weather, disease control, industrial action, act of God or any eventuality beyond the control of AE3 Media, we shall endeavour to reschedule; but the client hereby indemnifies AE3 Media and holds AE3 Media harmless from and against any and all costs, damages and expenses, including legal fees, incurred by the client.

AE3 Media will not be liable for damage, loss, injury, accident, annoyance, delay or irregularity, which occurs by reason of any act or default committed by any person or company.

UK law shall apply to any claim against AE3 Media and all proceedings shall be within the exclusive domain of the UK Courts.

The signature of the delegate/visitor or his/her duly authorised agent on the registration form shall signify the delegate/visitor's acceptance of the above conditions and the same shall bind both parties to this contract.